SBA Webinar on Disaster Loans

Friday, March 27, 2020 - 10:00am

Tiffin-Seneca Economic Partnership and the Seneca Regional Chamber of Commerce will be hosting a regional webinar with Ray Graves, Lender Relations Specialist with the US Small Business Administration’s (SBA) Cleveland Office.

Lender Relations Specialist Ray Graves will provide an overview to the Economic Injury Disaster Loan program, talk about how to apply for one, and answer questions from webinar participants. Graves joined the Cleveland office of the SBA in 2013, and has been working to help businesses obtain SBA financing since 1999.

Thousands of Ohio companies are suffering because of the coronavirus pandemic. Ohio companies can now apply to the federal government for low-interest, long-term loan to help. The program is called the SBA Economic Injury Disaster Loan, and it can provide up to $2 million in funding, with a term of up to 30 years. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Loan rates are expected to be 3.75% for businesses and 2.75% for non-profits with long-term repayments in order to keep payments affordable. Terms will be determined on a case by case basis.

Register here.

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